Last Update At 06 Jan 2016 00:27GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
1.4726
55 HR EMA
1.4757
Trend Hourly Chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
41
14 HR DMI
-ve
Daily Analysis
One more fall b4 rebound
Resistance
1.4748 - 61.8% r of 1.4816-1.4638
1.4728 - Hourly res
1.4696 - Y'day's NY high
Support
1.4635 - 2015 Mar low
1.4696 - 80.9% proj. of 1.5240-1.4806 fm 1.4947
1.4566 - 2015 near 5-year low (Apr)
. GBP/USD - 1.4673... Cable continued its recent losing streak on Tue as market fear of a 'Brexit' intensified after PM Cameron said he'll let ministers campaign for EU exit, price fell to a fresh 8-1/2 month low of 1.4638 in NY.
. On the bigger picture, cable's cross-inspired break of previous 1.4806 low last week to 1.4725, then to a fresh 8-1/2 month trough of 1.4638 y'day confirms the MT downtrend fm 2015 peak at 1.5930 (Jun) has once resumed n would yield weakness to 1.4590/00, however, as daily oscillator's readings would would be in oversold territory on such move, steep fall is therefore is not expected n reckon 2015 near 5-year bottom at 1.4566 would hold, at least, ahead of Fri's release of key U.S. jobs data. On the upside, a daily close abv 1.4816 would be the 1st signal temporary low has been made, abv 1.4849 confirms this view, then outlook would improve for a stronger correction to 1.4944/47.
. Today, as current price is trading below both 21-hr & 55-hr emas, suggesting downside bias remains, however, as hourly oscillators' readings would display 'bullish convergences' on next decline, reckon 1.4696/00 would hold. On the upside, abv 1.4728 anytime confirms temporary low is made, risks 1.4790/00.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.